Why should I Choose Turkish Citizenship?
Do you like warm weather, sunny beaches, and picturesque hills? Does the monotony of everyday life make you feel bored and exhausted?
You will love the climate and nature in Turkey! Many visitors from all over the world come here not only as tourists in peak seasons but also find it attractive to buy a real property — an apartment, villa, or commercial building — and then apply for Turkish citizenship on these grounds. Doing business or investing in the economy of Turkey also gives you the right to become a legal citizen.
Foreigners do not have to take Turkish language exams. If you have already served your duty in your home country, serving in the Turkish army will not be necessary. You need to show up in person only to officially apply for citizenship and then collect your passport.
All the documents are processed by the Ministry of Internal Affairs of the Republic of Turkey, and approval from the Security Service is required. The overall procedure takes from 1,5 to 3 months in total, however, any possible mistake or non-compliance with the requirements may extend the red tape considerably.
In this article, we will talk about how to obtain Turkish citizenship in different ways. In case you have additional questions or need some support, Tolerance Homes specialists will do all that is possible to help you and take over the paperwork.
Benefits of Turkish Citizenship
Turkey is known as a resort country with a Mediterranean climate, stunning nature, rich cuisine, and hospitable people. But its benefits are not only in the nice weather and lovely culture. Investors become Turkish citizens in order to get prospects of profitable investments, business development, purchase of liquid Turkish real estate, as well as the opportunity to obtain an E2 business visa in the United States. Also becoming a Turkish citizen gets you a passport offering visa-free travel to more than 110 countries
According to the decree of President Tayyip Erdogan, the minimum amount of long-term investment in the economy has been significantly reduced. From June 12th, 2022 you have several options to get a Turkish passport:
6 different ways for Turkish Citizenship
- Property investment
- Fixed capital investment
- Job creation
- Bank deposit
- Government bonds
- Marriage
Turkish citizenship by acquiring a property
These conditions refer to both new and resale properties. In case of equity construction, the contract should be duly notarized and TAPU are to be issued on independent parts of the property.
Since the Turkish lira has plummeted, real estate options are plentiful, and they are cheap for foreign buyers. Buying a property in Turkey for Turkish citizenship is the easiest and most popular investment option when applying. You can buy property, a house, an apartment, or land – do whatever makes the most financial sense to you.
It is really important to choose the proper time for real estate evaluation reports and sales agreements fixed in the local currency against the US dollar rate. The buyer is expected to pay for each property personally by a direct money transfer to the seller’s bank account. The buyer may not sell the property for at least 3 years. The Ministry of Environment and Urbanization regulates the right of an individual to obtain Turkish citizenship.
Turkish citizenship by bank deposit
In order to be eligible for the bank deposit option, you must invest at least 500.000 US dollars or equivalent foreign currency or equivalent Turkish Lira and make a commitment to hold the deposited amount for three years at banks operating in Turkey. The investment is to be confirmed by the Banking Regulation and Supervision Agency. An individual may deposit the equal value in Turkish Lira or Euro in one of the Turkish banks and get accruals at the bank’s interest rate. The minimal deposit term is 3 years. Our specialists will help you find the most lucrative terms, and you will get confirmation of meeting the requirements of the cash deposit within 7 days.
It is not required that such an amount should be deposited to only one single bank that operates in Turkey. In this context, a foreigner may deposit the money in more than one bank operating in Turkey with the condition to keep such deposit at such bank for at least 3 years and the total deposited amounts should be equal to 500.000 $
Steps for Turkish citizenship by cash deposit in the bank;
- Getting tax number
- Opening investment account
- Deposit money in the bank
- Application for certificate of conformity
- Application residency
- Application for Turkish citizenship
- Application for Turkish ID Card and passport
Turkish citizenship by Local Labor Investment
The Law on the Amendment of the Conditions for Granting Turkish Citizenship to Foreigners, published in the Turkish Official Gazette on 19/09/2018; stipulates that the business owner who secures employment opportunities for 50 Turkish citizens is entitled to Turkish citizenship, having previously been required to employ one hundred citizens. Basically, if you can start a company and employ at least 50 Turkish people, you will become eligible for a Turkish passport. You will probably need some legal guidance and advice on navigating the world of business in Turkey. Also, setting up a company, running a payroll, etc. comes with its own costs. It is hard to pin down exactly what your total investment would be, but we would only recommend this option for people who are set on running a legitimate business in Turkey for the long term.
Turkish citizenship by Investment Funds
To acquire citizenship a foreigner may also invest in the Turkish Real Estate Investment Trust with a minimum amount of $500,000, or buy the same equivalent in shares of the venture capital in other residential, land, or commercial investment funds, which are less dependent on the inflation rate. You have the following advantages against the option of buying a property: no need to take care of the management or maintenance of your real estate and, secondly, your assets can be sold faster.
To enter into your civil rights, you need to choose a world-class institution (such as a British Advisory Agency EY - Ernst & Young). The investments worth a minimum of $500,000 are performed under the supervision of the Turkish banks appointed by the state with the condition that the assets cannot be sold for at least three years.
Turkey Citizenship
Turkish citizenship by government Bonds
A foreigner who invests in Treasury bonds worth $500,000 under the condition to hold them for at least 3 years is also entitled to apply for a Turkish passport. This investment shall be confirmed by the Ministry of Treasury and Finance, and the owner will receive income depending on the type of state debt and its maturity.
Apart from the Principal Applicant (Investor) who has chosen one of the options above, other family members – a spouse and children under 18 (no age restrictions for handicapped) – can also apply for Turkish citizenship. Investor’s parents and children over the age of 18 have the right to get a long-time residence permit.
Foreign nationals cannot get Turkish citizenship directly. To apply for a Turkish passport an individual has to meet specific requirements, which differ from case to case. To do this you need to contact the regional center of the origin of your business, real estate, or bank account.
Turkish Citizenship
Tolerance Homes is always ready to help you (whatever country you are from – EU, Asia, or Russia) at any stage of the procedure. We will guide you through the entire process and advise which documents are required in your particular case, point out the specifics, and help with translation and notary service. If you agree to issue a Power of Attorney, we will take all the scrutiny and you will only need to collect your passport.
Turkish citizenship has the following advantages: to do your business or be employed, to get free education and medical care, and to get benefits from the Pension Program. Moreover, you will get the right to visit 72 countries visa-free. Among them are:
- Transcaucasia — Georgia, Armenia, Azerbaijan;
- Balkan Peninsula — Montenegro, Macedonia, Bosnia and Herzegovina, Albania, Serbia, Kosovo;
- Eastern Europe — Ukraine, Belarus, Moldova; Middle East — Northern Cyprus, Bahrain, Jordan, Oman, Qatar, Kuwait, Lebanon;
- Asia — Japan, Singapore, Hong Kong, South Korea, Indonesia, Malaysia, Kazakhstan;
- North Africa – Morocco, Libya, Tunisia;
- East Africa — Seychelles, Tanzania, Mauritius, Kenya, Madagascar;
- West and North Africa — Senegal and the Republic of South Africa;
- North America — Mexico, Bahamas, Panama;
- South America — Chile, Argentina, Colombia, Paraguay, Brazil, Uruguay, Peru.
Turkey allows dual and multiple citizenship, but please note that some countries do not recognize or have certain restrictions in place regarding dual nationality. If you are uncertain, please contact our Support Service: Tolerance Homes` specialists have over 17 years of successful work behind their belt, and they know in full the latest changes in legislation as well as all the subtleties of related paperwork.
Always yours,
Tolerance Homes Team
